TECHNICAL SECRETS:Japan’s state-backed investment fund has also made an offer to buy Sharp, as officials do not want the firm’s know-how to be acquired by foreigners
Date: Jan 22, 2016
By: Lauly Li / Staff reporter
Foxconn Technology Group (富士康), one of the main assemblers of Apple Inc’s iPhones, reportedly offered about ￥625 billion (US$5.33 billion) to buy Japanese electronics maker Sharp Corp.
The troubled Japanese electronics maker and its creditors are likely to reach a decision by Feb. 4, when Sharp is to release its financial figures for last quarter, the Wall Street Journal reported on Wednesday, citing people familiar with the matter.
The report said that according to Standard & Poor’s Financial Services LLC, Sharp is due to pay ￥510 billion outstanding debt in March. [FULL STORY]